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How do regualer revolving and installment charge account differ?
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What is a revolving account?
{| |- | A revolving account is an account that requires a minimum payment each month in addition to a service charge. When the balance decreases, the service charge/interest also declines. To learn more about credit terms you can visit bills.com |}
What does it mean for your account type to read revolving on your credit report?
Credit cards are revolving accounts. Whereas car loans and home loans are not. A revolving account is one where you can carry a balance and charge it back up as you pay it off.
Are credit cards revolving charge accounts?
yes
What is the difference between an open-ended credit account and a revolving account?
Only two types of credit card accounts in consumer credit. This is when a store or company issues a card with credit line say $1000. 1st is revolving credit which is like MBNA, Capital One, MasterCard, Visa, Orchard Bank, etc. Anything can be purchased at any store. A charge account is like Macy's, Foleys, Wal-Mart, etc. only items at that specific store can be purchased. Good Luck.
What is a regular charge account?
Where I regular charge your mom in doing my account lol
What is the difference among credit plans such as revolving charge 90 day and installment account and interest free credit plans?
Your mom is the instalment of something that i have no idea what it is.
What is a revolving account?
{| |- | A revolving account is an account that requires a minimum payment each month in addition to a service charge. When the balance decreases, the service charge/interest also declines. To learn more about credit terms you can visit bills.com |}
What does it mean for your account type to read revolving on your credit report?
Credit cards are revolving accounts. Whereas car loans and home loans are not. A revolving account is one where you can carry a balance and charge it back up as you pay it off.
What are the three basic types of credit?
Answer{| |- | The first one is Revolving credit: this type of credit situation is when a consumer borrows money from a lender and pays it back in one lump sum or makes monthly payments (eg.Visa or Master card), second is Charge credit: this type of credit varies from revolving in that you aren't able to make partial payments. With Charge Credit, you are required to pay back the full amount at the end of the month. And the third one is Installment credit: unlike revolving credit where you have the option to prolong your payback payments, with Installment Credit, you payback your debt in accordance within a predetermined period of time (e.g. mortgage).|}
What is designed to function much like a revolving charge account?
Most credit cards are designed as a revolving credit account. You spend money from the card and every month you pay it back so you can again use the money. That is why credit card have monetary limits based on you income and credit history.
Are credit cards revolving charge accounts?
yes
What parts of an atom has a negative charge?
The electron that are revolving around the atom in a fixed path is having negative charge.
The amount of interest a store charges a customer for buying on the installment plan?
Finance charge
Where can I apply for installment loans online?
Several Companies offer Installment Loans online without Credit Checks and even with Bad Credit. The major thing to look at with Installment Loan Companies is how much Interest they are going to charge on the Loan, some charge up to 300 percent, so if they lend you $300, you could end up owing them $900.
What is the difference between an open-ended credit account and a revolving account?
Only two types of credit card accounts in consumer credit. This is when a store or company issues a card with credit line say $1000. 1st is revolving credit which is like MBNA, Capital One, MasterCard, Visa, Orchard Bank, etc. Anything can be purchased at any store. A charge account is like Macy's, Foleys, Wal-Mart, etc. only items at that specific store can be purchased. Good Luck.
What is a regular charge account?
Where I regular charge your mom in doing my account lol
What are the types of credits?
Charge accounts, credit card, consumer loans, mortgage loans, and installment sales credit.
